FACT CHECK: Is Floyd Mayweather Broke?

By: Caroline John - Published: March 28, 2018 at 11:26 am | Last Updated:
October 23, 2018 at 6:25 am

Photo: Christian Petersen / Staff / Getty Images

Claim

MMA fighter, Chael Sonnen claims that Floyd Mayweather is broke and is coming out of retirement to restore his wealth.

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False

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There’s a chance that Floyd “Money” Mayweather Jr. might come out of retirement again and not for the same reasons as last time. MMA fighter Chael Sonnen claims that Mayweather has burned through his millions and will have to come out of retirement to earn it back. So, is Floyd Mayweather broke? We have reason to believe he’s not. Here’s why.

Is Floyd Mayweather Jr. Bankrupt?

Floyd Mayweather has revealed plans to come out of retirement in 2018. But this time, he’s switching the ring for the octagon.

That’s right! After his bout with UFC champ Conor McGregor, Mayweather plans to compete in MMA.

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Mayweather’s recent decision has earned mixed reactions from the combat sports world. Most MMA fighters don’t think that he can make that switch easily. And many are left wondering why Mayweather needs to come out of retirement at all.

Enter Chael Sonnen and his elaborate reasoning for Mayweather’s return.

Sonnen told TMZ that there’s no doubt Mayweather will return, but in boxing and not MMA. He claims that Mayweather’s comeback is a done deal because the undefeated boxing champion has no money.

The Bellator fighter said, “Floyd’s broke … it does not matter what you made, it matters what you kept, and he is a dumb-dumb!”

Sonnen acknowledged Mayweather’s knack for garnering major pay-per-views. But he says that the boxer mismanaged his wealth and blew it all away.

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“Look, he’s just not a very bright guy. He’s surrounded with even less bright guys,” said Sonnen, crediting Mayweather for his skills to stay relevant.

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Sonnen also claims that Mayweather is riding the hype created by his switch to MMA to ensure big bucks when he makes a comeback. But is Floyd Mayweather really on the brink of bankruptcy like other boxing greats before him?

We at EarnTheNecklace found evidence to support the contrary.

Photo: Instagram/floydmayweather

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Money on the Money

Floyd Mayweather is known for converting views into money as much as he’s famous for his impenetrable defense.

The pound-for-pound champion reportedly walked away with $300.0 million from the Conor McGregor fight in August 2017. That’s three times more than what McGregor got.

By coming out of retirement that one time built Floyd Mayweather’s net worth to an estimated $540.0 million. It is predicted that he might be counted among Forbes’ richest athletes for 2017.

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Mayweather certainly deserves the nickname “Money.”

Nevertheless, Sonnen may not be far off when he says that Mayweather may be mismanaging his wealth.

Mayweather’s Instagram is an ostentatious testimony of his lavish lifestyle. From showing off his diamond-encrusted accessories to swimming in cash, Mayweather has no inhibitions putting his massive wealth on display.

The pro boxer reportedly owns a fleet of cars worth $15.0 million. And that’s just the cars in Las Vegas!

Mayweather reportedly owns $10.0 million worth of jewelry and spends $1,000 on a haircut.

Despite his tendency to splurge, Mayweather’s not going down the path of Mike Tyson or Evander Holyfield anytime soon.

Photo: Instagram/floydmayweather

In 2017, Mayweather was dogged by rumors that he owes millions to the IRS in back taxes. While he did admit he had a little trouble with the IRS, he has a theory why he’ll never go broke.

“For 21 years, I’ve been here. Get used to me. I’m not going nowhere. I told them this 21 years ago. So 20 years from now, I’ll still be able to buy the same things every month—a nice house, nice car. And everybody knows, I got any kind of car you can name. I been to any country you can possibly name. And 30 years from now, I’ll still have probably a newer jet, still have top-flight cars, and my kids will just be running all my different businesses,” Mayweather claimed.

Rapper 50 Cent, who is recovering from bankruptcy, once said that when the boxer stops fighting, the money will also stop.

But the heavyweight champion says that he can enjoy retirement on a seven-figure income thanks to his many investments.

Mayweather claims to have made some nifty investments that will sustain him even if he loses all his wealth. That certainly contradicts Sonnen’s claims that Mayweather is not smart with his money.

We’re not sure if Sonnen is provoking Mayweather by taking jabs at his wealth. But it’s well-known that the pro boxer has more haters than fans who want him to go broke.

Combat sports fans are still trying to wrap their head around Mayweather’s comeback. After all, the man did say he wouldn’t come out of retirement again after the McGregor match.

But now, the pro boxer says he’s training to make his MMA debut by the end of 2018. We can only assume that undying competitive fire inside him pulled him out of retirement.

Floyd Mayweather won’t be winning his haters anytime soon. But we assure you, he’s not entering the octagon because he needs the money.